Citizens Bank Mortgage Rates, Fees & Info

CARTHAGE, TN

LEI: 254900RQ2FMUUUQUGI02

Tax ID: 62-6279815

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Mortgage Data

Review & Overview

Citizens Bank is a smaller bank specializing in Home Purchase and Refi loans. Citizens Bank has a high proportion of conventional loans. Their top markets by origination volume include: Nashville, Cookeville, Crossville, Middlesborough, and Mcminnville among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Citizens Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

278

Origination Dollar Volume (All Markets)

$46,040,000

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 154 $26,820,000 $174,156 $0 0.00%
Outside of Metro Areas 70 $10,920,000 $156,000 $0 0.00%
Cookeville, TN (FHA|USDA|VA) 45 $7,275,000 $161,667 $0 0.00%
Crossville, TN (FHA|USDA|VA) 5 $345,000 $69,000 $0 0.00%
Middlesborough, KY (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
McMinnville, TN (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
Citizens Bank's top markets include Nashville, Cookeville, Crossville, Middlesborough, and Mcminnville among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 278 $46,040,000 $165,612 $0 0.00%

    For 2022, Citizens Bank's most frequently originated type of loan was Conventional, with 278 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 112 $23,490,000 $209,732 $0 0.00%
    Refi 107 $16,945,000 $158,364 $0 0.00%
    Other 30 $3,430,000 $114,333 $0 0.00%
    Home Improvement 29 $2,175,000 $75,000 $0 0.00%

    For 2022, Citizens Bank's most frequently cited loan purpose was Home Purchase, with 112 originations. The 2nd most popular reason was Refi, with 107 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 278 $46,040,000 $165,612 $0 0.00%

    For 2022, Citizens Bank's most frequently cited loan duration was Other, with 278 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 102 $6,000,000 $58,824 $0 0.00%
    $100k-200k 99 $14,755,000 $149,040 $0 0.00%
    $200k-400k 67 $18,575,000 $277,239 $0 0.00%
    $400k-600k 6 $2,830,000 $471,667 $0 0.00%
    $600k-1MM 3 $2,275,000 $758,333 $0 0.00%
    $1MM+ 1 $1,605,000 $1,605,000 $0 0.00%

    2022 saw Citizens Bank place emphasis on $100,000 or less loans with 102 originations, totaling $6,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 75 $9,865,000 $131,533 $0 0.00%
    $50k or less 69 $7,515,000 $108,913 $0 0.00%
    $75k-100k 40 $6,970,000 $174,250 $0 0.00%
    $100k-150k 38 $8,440,000 $222,105 $0 0.00%
    $150k-250k 23 $5,035,000 $218,913 $0 0.00%
    $250k+ 17 $5,175,000 $304,412 $0 0.00%

    Citizens Bank lent most frequently to those with incomes in the $50k-75k range, with 75 originations. The second most popular income band? $50k or less, with 69 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 278 $46,040,000 $165,612 $0 0.00%

    Citizens Bank lent most frequently to those with DTI ratios of Exempt%, with 278 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 262 $42,740,000 $163,130 $0 0.00%
    Not applicable 14 $2,920,000 $208,571 $0 0.00%
    Black 1 $305,000 $305,000 $0 0.00%
    American Indian 1 $75,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.01%

    Citizens Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    96.04%

    Citizens Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 278 $46,040,000 $165,612

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    278 $46,040,000 $165,612

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 1 10.0%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 3 30.0%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 4 40.0%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 1 10.0%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 1 10.0%